GOOG Google tgt raised to $300 at Piper Jaffray; fim would be buyers of YHOO and GOOG (266.00 ) Piper Jaffray raises their GOOG tgt to $300 from $275. Firm believes the co is rapidly expanding its non-search services and predicts that by the end of 2006, GOOG will be seen as a full-fledged multi-application co with a strong presence in several promising areas. They also believe estimates are conservative. Firm also believes search and advertising are very strong this year and will significantly outperform e-commerce. As such, they reiterate their thesis that YHOO and GOOG are undervalued compared with AMZN and EBAY, which trade at the same levels. They would be buyers of YHOO and GOOG, and with a sector recovery, also INSP, Digital River (DRIV), and the Chinese wireless players.
I don't know if its overvalued, undervalued or what...all i can say is this stock has no regards to what the overall market is doing...the naz is down it goes up. the naz is up it goes up...the naz is sideways it goes up...I don't know how anyone can put a price on a stock but the bottom line is i truly believe this stock is racing to $300.00....it hasnt looked back since they put a bounty on its head....
Sounds like GOOG is climbing up the wall of worry. Everyone is worried that it is overvalued, and it goes up. Maybe pretty soon everyone's grandma will think GOOG is a great buy, and then it will be the time to sell. Good trading, Maji